Oil lower as inventories rise

Oil dropped today following the rise in crude inventories and production in the U.S., and a stronger greenback, having had a major impact on the consumption of fuel.

Brent crude oil at $56.18

Brent crude futures traded at $56.18 a barrel decelerating 0.2% or 11 cents, and WTI crude futures at $50.64 per barrel falling 5 cents.

U.S. dollar higher following FED's release

The U.S. dollar managed to appreciate versus its major counterparts today amid the FED signaling the probability for a further rate hike prior to the end of 2017.

As per the initial predictions, the Federal Reserve left rate stable yesterday, Wednesday, while the central bank minimized its inflation outlook to 1.5% from 1.7% for 2016, and to 1.9% from 2% for 2018.

Euro and U.S. dollar at 1.1877

The EUR/USD traded to 1.1877 declining 0.13%, the GBP/USD stabilized at 1.3487, the USD/JPY reached 112.50 rising 0.23%, and the NZD/USD aimed at 0.7323 falling 0.49%. The U.S. dollar index approached 92.36 appreciating 0.15%.

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